Risk
Totten Insurance Group, a provider of specialty niche products to brokers, has acquired intermediary EMC Underwriting (Excess Markets Corporation), which handles special risk property and casualty accounts in the province of Ontario.Totten Group and EMC will join forces effective Jan. 1, 2007.EMC Underwriting president Eugene Yen and his staff will be joining the Totten Group. […]
By Canadian Underwriter | November 20, 2006
1 min read
Claims
Residents of Vancouver, North Shore and Burnaby, B.C., are under a boil-water advisory because recent rainstorms have muddied the Lower Mainland’s water distribution system.”At the recommendation of the Medical Health Officers, the boil water advisory is lifted for all areas except Vancouver, North Shore and Burnaby,” the GVRD medical health department said in a Nov. […]
By Canadian Underwriter | November 17, 2006
2 min read
Oil Insurance Limited (OIL), a mutual insurance company in the energy industry, has announced that nine of its more than 83 members have elected to withdraw from OIL and not renew their policies effective Jan. 1, 2007.None of the nine withdrawing members were identified in a company press release.Collectively, the nine shareholders had gross assets […]
Industry
OdysseyRe Holdings Corp. (NYSE: ORH) has filed a registration statement with the U.S. Securities and Exchange Commission related to a secondary offering of OdysseyRe’s common stock.OdysseyRe announced it filed the statement at the request of its majority shareholder, Fairfax Financial Holdings Limited (TSX and NYSE: FFH).”Fairfax proposes to sell 9 million of its OdysseyRe shares, […]
Toronto’s Hospital for Sick Children has recently completed renovations to its Plastic Surgery Clinic. The new clinic was made possible by a Cdn$500,000 donation from the KRG Children’s Charitable Foundation.Enriching and enhancing children’s lives is what it’s all about for Steven Wise, chairman and CEO of KRG Insurance Group and chairman of KRG Children’s Charitable […]
Zurich Financial Services Group (Zurich) reports that continued strong operating performances in all business segments generated a record business operating profit and net income for the nine months ending at Sept. 30, 2006.”Our focus on operational excellence continues to generate profitable growth,” remarked Zurich CEO James J. Schiro. “General Insurance’s disciplined portfolio management approach achieved […]
By Canadian Underwriter | November 16, 2006
Guy Carpenter & Company Ltd., a global risk and reinsurance specialist, and Lloyd’s insurer Amlin (LSE: AML) say they have completed the Market’s first fully paperless claim settlement.The claim settlement was made possible through the successful implementation of Electronic Claims File (ECF) initiatives in the London Market, Guy Carpenter said in a press release.”As one […]
Seventy-one Grade 9 students attended the Insurance Institute’s Feed the Minds of Youth day, held in conjunction with Take Your Children to Work Day in Toronto in November.A total of seven insurance companies participated in the event, in which the children ate a pizza lunch while learning about a variety of insurance careers.The students heard […]
Global reinsurers in took advantage of relatively mild weather conditions in 2006 to stabilize their balance sheets after a particularly tough 2005 season, a report by Standard & Poor’s observes.The report says reinsurers for the most part took steps to strengthen operational and underwriting results. In addition, they improved their capitalization and financial flexibility through […]
By Canadian Underwriter | November 15, 2006
Canada’s average reported Directors & Officers (D&O) liability insurance limit was just under Cdn$71 million, according to a survey of 270 TSX/S&P companies.Hunters International Insurance, a Toronto-based company, conducted the study. It found the highest reported overall D&O limit in 2006 was Cdn$333 million, while the lowest was Cdn$4.5 million.”All of these figures are lower […]
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